Entrepreneurship: 25 Cameroonians Selected For Tony Elumelu Programme

They are among 1,000 youths from Africa who will receive intensive nine-month online training and coaching on networking and mentoring.

Cameroon’s flag will this time around fly higher at the 2016 Tony Elumelu Entrepreneurship Programme, TEEP. In effect, 25 young Cameroonians, all promoters of start-ups, have been listed as part of the second round of 1,000 young entrepreneurs for the programme from the African continent.

The number of Cameroonians in 2016 increased by eight, as against 17 in 2015. They represent diverse sectors, led by agriculture (six), healthcare (five), media and entertainement (4) and Information and Communication Technology (two). The young entrepreneurs will each receive 5 ,000 US Dollars as seed capital after training. “In TEEP’s first year, we spent over $ 8 million of our $100 million commitment – with $5 million going directly to entrepreneurs as seed capital - and the results have far exceeded our expectations. We have funded entrepreneurs, established networks and helped extraordinary people take control of their destinies,” said the founder, Tony O. Elumelu.

The 2016 participants will beginning April receive intensive online training and coaching on networking and mentoring with support from mentors assigned to each start-up entrepreneur. There will be a 12-week course with mentors to faciliate. Those who complete this phase will travel to Lagos Nigeria for a 2-day boot camp and attend the Elumelu Entrepreneurship Forum. The seed capital will then be handed out to each statr-up.Follow-up by mentors will continue as the businesses are set up. Over 45,000 entrepreneurs from 54 African countries applied, more than doubling the number of applications received in 2015.

The highest number of applicants came from Nigeria, Kenya, Ghana, Uganda and Cameroon. All five regions - North, East, Southern, Central and West Africa, are represented. The 2016 programme strives to transform the selected young entrepreneurs into a generation of newly empowered African business owners who are the clearest evidence yet that indigenous business growth will drive Africa’s economic and social revolution.